Adams Natural Resources Fund Inc. Has $5.70 Million Position in Newmont Co. (NYSE:NEM)

Adams Natural Resources Fund Inc. trimmed its holdings in shares of Newmont Co. (NYSE:NEM) by 10.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 153,100 shares of the basic materials company’s stock after selling 17,000 shares during the period. Newmont makes up about 0.9% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 24th biggest position. Adams Natural Resources Fund Inc.’s holdings in Newmont were worth $5,698,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC lifted its stake in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 18,722 shares during the period. Nordea Investment Management AB boosted its stake in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after buying an additional 1,578,545 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Newmont by 57.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after acquiring an additional 865,213 shares during the period. Brookstone Capital Management acquired a new position in Newmont during the fourth quarter worth $245,000. Finally, Moody National Bank Trust Division lifted its holdings in shares of Newmont by 13.6% during the fourth quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 2,645 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NEM shares. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Royal Bank of Canada raised their price objective on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Finally, TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares of the company’s stock, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock valued at $1,388,758 in the last 90 days. 0.06% of the stock is owned by insiders.

Newmont Price Performance

NEM opened at $47.23 on Friday. The company has a fifty day moving average price of $44.10 and a two-hundred day moving average price of $45.63. The firm has a market capitalization of $53.22 billion, a PE ratio of 16.12, a P/E/G ratio of 0.41 and a beta of 0.54. Newmont Co. has a 52 week low of $33.77 and a 52 week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Newmont’s dividend payout ratio is 34.13%.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.